The largest component of aggregate demand is
A. investment spending.
B. consumer spending.
C. government spending.
D. total imports.
Answer: B
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A currency depreciation is a(n):
A. increase in the official value of a currency in a fixed-exchange-rate system. B. increase in the value of a currency relative to other currencies. C. reduction in the official value of a currency in a fixed-exchange-rate system. D. decrease in the value of a currency relative to other currencies.
The payoff matrix shows the outcome for only one player in a game situation.
Answer the following statement true (T) or false (F)
The law of diminishing returns indicates that the marginal physical product of a factor declines as more:
A. Output is produced with the most efficient combination of factors. B. Of the factor is used, holding output constant. C. Of the factor is used, holding other inputs constant. D. Of the good is consumed.
In the North American Industry Classification System (NAICS) classification system, the broadest classification would be:
A. a four-digit industry. B. a two-digit industry. C. a five-digit industry. D. a three-digit industry.